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a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to vote on that same thing. and if we can just get a few house republicans on board, we can pass the bill in the house, its wi it will land on my desk, and i am ready. i've got a bunch of pens ready to sign this bill. >> and 30 minutes after the president was finished, john boehner held a press conference. he gave a pessimistic assessment of the negotiations. let's listen to mr. boehner. >> let's not kid ourselves. but when i come out the day after the election and make it clear that republicans will put revenue on the table
a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to...
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Dec 1, 2012
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the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like allyson and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner held a press conference, and he left unanswered the president's call for decoupling that 98% from the richest 2%, and he gave a pessimistic assessment of the si
the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families....
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Nov 29, 2012
11/12
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anything above $2,500 will be taxed and the rest will be taxed. they are going to be playing $10,000, $12,000 more per year taxable rate to get their kids per school. >> and they're always talking about how the republicans want to destroy the study for autism. but here it is black and white in the obama. we appreciate it. it's great to see you. >> thanks for having me. >> now to the lottery frenzy. there's already a winner in this game. the government. not good. we're going to explain when "the kudlow report" comes right back. >>> if everything on the fiscal side caves, what incentive is there for tax reform in 20 13? >> ups believes congress does need to move very quickly to get this done. >> there are going to be many moments when it seems like there's a deal and then there are people who fight the deal, which is why we have been featuring the notion of rising above. >> all sides could lose if an agreement isn't arrived upon. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all
anything above $2,500 will be taxed and the rest will be taxed. they are going to be playing $10,000, $12,000 more per year taxable rate to get their kids per school. >> and they're always talking about how the republicans want to destroy the study for autism. but here it is black and white in the obama. we appreciate it. it's great to see you. >> thanks for having me. >> now to the lottery frenzy. there's already a winner in this game. the government. not good. we're going to...
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Nov 29, 2012
11/12
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it never has been a tax issue. we have the same amount of revenue coming in in 2012 tat we had in 2007, but we spend a trillion dollars more per year now th we did five years ago. thiss a spending issue. gerri: spending or revenue, that is, the amount of money taken in by the federal government has recovered, and it's doing much better. >> right. gerri: turning your tarns to a conversation going on for days lately. the most recent adherent oklahoma congressman tom cole saying, look, republicans need to compromise. they need to keep tax cuts in place forpeople earning $250,000 and less. heays it's time to make a change and now people on the hill saying that the g.o.p. is splintering. what do you say? >> that's not true. actually, what tom was trying to say was it's a tax call thing. tom is against raising taxes on any level. he's against raising taxes on all folks, but have agreement with the president onhis group that's $250,000 and less, clear the table and make the bracket.ions in the upper he's against raising r
it never has been a tax issue. we have the same amount of revenue coming in in 2012 tat we had in 2007, but we spend a trillion dollars more per year now th we did five years ago. thiss a spending issue. gerri: spending or revenue, that is, the amount of money taken in by the federal government has recovered, and it's doing much better. >> right. gerri: turning your tarns to a conversation going on for days lately. the most recent adherent oklahoma congressman tom cole saying, look,...
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Dec 4, 2012
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tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after the break, offer ver ses counteroffer. we will break both down with ezra klein when he joins us next on "now." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our env
tax the rich first. obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got...
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Dec 3, 2012
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tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats contemplated going over the cliff in recent days. perhaps in hopes of gaining leverage. >> if the republicans don't agree with that, we reach a point where all the tax cuts expire and we start over next year. >> form every republican senate aide said it would be hard to blame one party. >> i think they realize that both sides will be culpable if we go over cliff. >> house speaker john boehner says going over the cliff is far too dangerous to the economy. nevertheless, even treasury secretary geithner suggested on fox news sunday that republicans might need more time
tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats...
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Dec 6, 2012
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as i just indicated, it includes a $2 trillion tax increase over ten years, the biggest real-dollar tax increase in u.s. history. it increases taxes on nearly one million small businesses in the middle of a jobs crisis. according to ernst & young, this type of rate hike would cause more than 700,000 americans to lose their jobs. it raises taxes on investment income, harming economic growth even more. it includes tens of billions of dollars in more washington spending in a deal supposedly to cut the deficit. and most outrageous of all, it gives the president of the united states unilateral power to raise the limit on the federal credit card, the so-called debt ceiling, whenever he wants or as much as he wants. and while i'm flattered the administration has taken to calling this the -- quote -- "mcconnell provision" they seemed to have forgotten how this worked in the budget control act. we gave the president the authority then to request a debt ceiling increase, but that was only after the white house agreed to $2 trillion in cuts to washington spending and agreed to be bound by the timi
as i just indicated, it includes a $2 trillion tax increase over ten years, the biggest real-dollar tax increase in u.s. history. it increases taxes on nearly one million small businesses in the middle of a jobs crisis. according to ernst & young, this type of rate hike would cause more than 700,000 americans to lose their jobs. it raises taxes on investment income, harming economic growth even more. it includes tens of billions of dollars in more washington spending in a deal supposedly to...
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Dec 6, 2012
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what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some $2 trillion in cash sitting on the balance sheets of corporate america waiting to be put to work. the reason it hasn't been put to work is because of uncertainty. taxes are going to go up, the deficit is going to be reduced, some of that money is going to be released. just like ed schultz said, this is all very good news for the american economy. >> so basically the uncertainty is what's providing the certainty moving forward because people across the country will look at this and the hand wringing that's taking place in washington, d.c. back and forth. the framework that could come out of this could mean a much better booming economy? >> i think so. what's been holding back the 2d trillion on the sidelines is corporate ceos didn't kno
what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some $2 trillion in cash sitting on the balance sheets of corporate america waiting to be put to work. the reason it hasn't been put to work is because of uncertainty. taxes are going to go up, the...
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Dec 6, 2012
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tonight's question, will radical republicans ever agree to a tax hike deal? text "a" for yes and text "b" for no to 622639. you can always go to our blog and leave a comment. we'll bring you the results later on in the show. >>> joining me tonight, congressman steny hoyer of maryland, the house democratic whip. congressman, good to have you with us tonight. appreciate it. >> always good to be with you, ed. thanks. >> got some folks nervous talking about entitlements. when you say entitlement cuts are on the table, what does that mean and how far are you willing to go? >> well, when i say everything needs to be on the table, ed, i want everybody to put their cards on the table and tell me what they want to do. i want not only to see that myself, i want to see what others want to do, including my republican colleagues, in terms of entitlements. now, there are some things we are absolutely not going to do, as you well know. made it very clear during the election, we're not going to voucherize medicare. we're not going to privatize security. we believe very stron
tonight's question, will radical republicans ever agree to a tax hike deal? text "a" for yes and text "b" for no to 622639. you can always go to our blog and leave a comment. we'll bring you the results later on in the show. >>> joining me tonight, congressman steny hoyer of maryland, the house democratic whip. congressman, good to have you with us tonight. appreciate it. >> always good to be with you, ed. thanks. >> got some folks nervous talking about...
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tonight's question, will radical republicans ever agree to a tax hike deal? text "a" for yes and text "b" for no to 622639. you can always go to our blog and leave a comment. we'll bring you the results later on in the show. >>> joining me tonight, congressman steny hoyer of maryland, the house democratic whip. congressman, good to have you with us tonight. appreciate it. >> always good to be with you, ed. thanks. >> got some folks nervous talking about entitlements. when you say entitlement cuts are on the table, what does that mean and how far are you willing to go? we believe very strongly that we need additional revenues if we're going to get our country on a fiscally sound basis. >> and that would take us to benefits. are you willing to put benefits on the table to get a deal? >> everything needs to be on the table. when you say say, am i willing -- i want to see what the outlines are. i think even paul ryan, in the short-term, said benefits should not be on the table. i agree with that, certainly. and it depends upon what you're talking about. certainly
tonight's question, will radical republicans ever agree to a tax hike deal? text "a" for yes and text "b" for no to 622639. you can always go to our blog and leave a comment. we'll bring you the results later on in the show. >>> joining me tonight, congressman steny hoyer of maryland, the house democratic whip. congressman, good to have you with us tonight. appreciate it. >> always good to be with you, ed. thanks. >> got some folks nervous talking about...
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Dec 4, 2012
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it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over theically. >> i don't think the grown-ups believe they have to do the job by january 1st. i believe they believe the grown-ups have to do the job by january 30th or february 15th. >> they're going to believe the politicians can get the job done when they failed to get it done by january 1st. >> i hear what steve is saying there. i'm standing in your camp which is a rare spot for me to be in, standing in chris' camp here but i think you're right. i think the markets have not baked this into their equation. >> dysfunction and childishness. >> it has nothing to do would my bottom lin
it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over theically....
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here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and splithe baby. melissa: right. >> do i think you always know at eventually you will have to rear back a little bit towards the middle. melissa: yeah. >> as far as the republicans counter, i think they're trying to at least in certain, especially with government. there is always posturing, right? melissa: right. >> partly it is posturing hey, we're willing to talk. here's what we're thinking to at least try to jump-start this as the clock continues to kick. melissa: when you look at the nuances what is going on in the media, yesterday everyb
here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and...
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we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington, he's an attorney, who said, listen -- >> a lawyer? >> a lawyer but speaks to a lot of folks that are wall street type who says the market could take it for a couple of weeks. >> the cake is baked and they think the intelligence of politicians is up to this challenge. >> but wall street doesn't really have a lot of faith in this process to be able to get done. they have priced in just a little bit that this could happen for a while. maybe not for months, but you wouldn't see the market necessarily crash like the next day. you'd have time. i think if they came back on january
we can live with a little tax increase. we're loaded up here. just move on and don't screw up the economy because we'll lose a lot more money if this market crashes to a second great recession. >> chris, i think to some extent the market has priced in the notion we would go over the fiscal cliff -- >> you're wrong. no. everybody -- who you talking to? i keep talking to people and they -- who you talking to? >> i actually spoke with a source the other day who is in washington,...
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Dec 5, 2012
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they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i want more and i'm take it from you if that's what it takes. american economic policy works best when it's building a middle class. >> you go back to henry ford, who is no legal tarian at heart. he said if my workers can't afford to buy the cars they're building i won't be able to sell them to everybody and wanted to raise wages. you have been a proponent of going over the cliff basically saying we're not going to cave because of the threat. do you still hold that position and is there support in the democratic party for it? >> there is. we're not in favor of going over the cliff we're in favor of
they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i...
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Dec 1, 2012
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there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim from twitter says -- guest: absolutely. a lot of these credits and deductions, the standard deduction exceeds what you would get, that you just take that. host: the specific credits we have been talking about prompt a question from cindy. guest: yes. you generally have to be working are working outside the home. host: is there an hour requirements? guest: there are a lot of specific requirements. host: kay from richmond, virginia. caller: if somebody is working as hard as they can and making less than $50,000 a year, they count on this refund every y
there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim...
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the social security payroll tax. there is a tax increase in january. unless someone steps up and says wait a second, we are getting everyone else a tax break and let social security tax go up 2%. >> bret: winners and losers? >> bill kristol is turning in to a socialist. [ laughter ] >> family tradition. way back. >> secretary of the treasury sitting right over there. workers, champion. the winner mahmoud abbas locally because he outshone hamas on this even though the victory he won in the u.n. was pyraquan. loser speaker of the house john boehner. he offered the president a peace pipe and got in return a demand that he turned over his sword, his shirt and at the end his trousers. that is a rather embarrassing position for the speaker. >> bret: he will be asked about it on "fox news sunday" with chris wallace. that is it for the panel. but stay tuned to see one thing congress did accomplish today. victor! victor! i got your campbell's chunky soup. mom? who's mom? i'm the giants mascot. the giants don't have a mascot! ohhh! eat up! new jammin jerk chicke
the social security payroll tax. there is a tax increase in january. unless someone steps up and says wait a second, we are getting everyone else a tax break and let social security tax go up 2%. >> bret: winners and losers? >> bill kristol is turning in to a socialist. [ laughter ] >> family tradition. way back. >> secretary of the treasury sitting right over there. workers, champion. the winner mahmoud abbas locally because he outshone hamas on this even though the...
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Dec 7, 2012
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taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one, we are talking about federal taxation. if you want to have a argument with your county or city government, new york city and westchester county or long island go have it. >> you are not answering. >> but if you are talking about federal tax, right i'm saying to you i between between 35 and 39 is totally good. >> but that's not addressing it. wait a second. this is not a small issue. after somebody pace their federal, their state, their social security, their property, their car tax, their sales tax, after they are done giving the government their fair share, state, local, federal, what is fair? give me a
taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one,...
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Nov 30, 2012
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only on the top income tax brackets. another senior republican lawmaker who asked not to be identified this time told reuters that the democratic bill could pass in the house of representatives if john boehner would allow such a bill to be brought to the house floor for a vote. here is boehner speaking about the president earlier today. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> speaker boehner doesn't want to propose spending cuts, so now he's trying to pressure the white house to do it. >> there's been no serious discussion of spending cuts so far. and unless there is, there's a real danger of going off the fiscal cliff. >> a reporter asked senate majority leader harry reid about speaker boehner's comments. >> he says that democrats have got to get serious about cuts, spending cuts. where is the disconnect then? >> i don't understand his brain, so y
only on the top income tax brackets. another senior republican lawmaker who asked not to be identified this time told reuters that the democratic bill could pass in the house of representatives if john boehner would allow such a bill to be brought to the house floor for a vote. here is boehner speaking about the president earlier today. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks...
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Dec 7, 2012
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those middle class tax cuts in that legislation would protect the tax cuts for 98% of americans and 97% of small businesses. that, as we are in the midst of the holiday season, is absolutely essential to continuing to get our economy turned around and focus on job creation. >> "the new york times" reporting today that negotiations are now down to just two people. the president, the house speaker. we know that some senate democrats dispute this. what do you think about this point with regard to the negotiations and who's in the room? >> i know that the president and his advisers are focused on making sure that in the discussions that they have with both the house and the senate that whatever plan they agree to includes a balanced approach. one that's fair to the middle class and one whose math makes sense and reaches the size of the duff sit reduction we need that doesn't balance all the pain on the backs of the middle class and that makes sure that we have suspending cuts and revenue. when it comes to entitlement reform, we have an opportunity to add another hundreds of billions of doll
those middle class tax cuts in that legislation would protect the tax cuts for 98% of americans and 97% of small businesses. that, as we are in the midst of the holiday season, is absolutely essential to continuing to get our economy turned around and focus on job creation. >> "the new york times" reporting today that negotiations are now down to just two people. the president, the house speaker. we know that some senate democrats dispute this. what do you think about this point...
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the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill dow
the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal...
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we should do real tax reform. if there are loopholes, there is a loophole for being able to write off your yacht as a second home. let's go after that. we need more revenue and the way you do that is through rapid economic growth. it's the only way to generate the kind of revenue you need and hold it. >> what's the only way you would raise tax rates on the top 2%? >> the number one issue is to grow the economy and creating jobs. i believe that proposal will hurt job creation. the tru millionaires, they have the best accountants and lawyers in america. do whatever you want, they are go to go maximize it. the people who get crushed, the small s corporation who can't afford to do this in the tax code and ends up getting creamed. they have to get the money from somewhere. though can lay off workers, and none of those things are good for our economy. it's about growth. this stuff hurts growth. the president has a tax increase that will help grow the economy. i'm interested to hear about it. >> you would vote against th
we should do real tax reform. if there are loopholes, there is a loophole for being able to write off your yacht as a second home. let's go after that. we need more revenue and the way you do that is through rapid economic growth. it's the only way to generate the kind of revenue you need and hold it. >> what's the only way you would raise tax rates on the top 2%? >> the number one issue is to grow the economy and creating jobs. i believe that proposal will hurt job creation. the...
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tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion that some. she has been taking steps to assess her options when it comes to running for office. she is doing opposition research on herself to see where she might be most vulnerable. mcconnell will be running for his sixth term another option is to run against senator rand powell in 2016. there is a briefings tomorrow on the september 11th attack on our console consoleate attack in benghazi they the talking points were watered down by the cia. it said the notes did contain reference to al-qaeda but the cia took it off. elizabeth warren has won a sp
tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion...
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cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell them, let's act like adults and work this out? >> absolutely. and what is really most important is that the public has spoken. we just got through an election and now is the time for people to come together. the president has extended an olive branch. he continues to do that and all of us are working day and night until we get there. i know it's in the best interest of our economy and the world. everyone is looking to the united states for leadership and this president has exerted so much leadership, we need to continue that. it's not one party benefiting over an
cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell...
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you may lose the tax deduction there. that will definitely hit the top percent of americans, and that's a concern because it's a lot of small business owners. >> let's talk about the other immensely popular deduction, and this is the mortgage deduction. >> this is a heated one. this is very heated. here's the thing. if you're looking at your interest that you're paying, up to a million dollars of that is deductible. second homes, the interest is deductible. home equity loans, the interest is deductedible. now, that's been around since the teens. the ability to do that. so here's the thing, though. only one in four homeowners actually take this deduction. >> really? >> yes. right. people aren't really surprised because most homeowners actually don't necessarily qualify for it because they don't pay enough in interest. >> or they don't itemize? >> they don't itemize, exactly. so at least 25% to 30% of those folks, however, make less than $100,000. so these folks will get very hit by this. if they can phase it in, that will
you may lose the tax deduction there. that will definitely hit the top percent of americans, and that's a concern because it's a lot of small business owners. >> let's talk about the other immensely popular deduction, and this is the mortgage deduction. >> this is a heated one. this is very heated. here's the thing. if you're looking at your interest that you're paying, up to a million dollars of that is deductible. second homes, the interest is deductible. home equity loans, the...
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they don't want to touch tax rates at all. and so they are left kind of jiggling around the edges with tax reform and closing loopholes and things like that. they can't afford to extend these rates and kristol is not the only republican worried about this are sort of thing. there is a persistent pr problem with the party. you know, it just lost the last election because it couldn't kind of come to terms with its insistence and it's about to go down that same pr rabbit hole again with this proposal. >> ezra, wouldn't they know that this is a pr hold that is about to go down? why would they risk this, in your opinion? >> well, think about it more broadly from a bargaining standpoint. in particular, things like the payroll tax cut and any kind of stimulus that the republicans feel that they can eventually stomach, that's a great thing for them to trade away at the end. maybe they don't hate that much but know that president obama really wants. when you're late in the negotiations, that's when they are going to begin to give thing
they don't want to touch tax rates at all. and so they are left kind of jiggling around the edges with tax reform and closing loopholes and things like that. they can't afford to extend these rates and kristol is not the only republican worried about this are sort of thing. there is a persistent pr problem with the party. you know, it just lost the last election because it couldn't kind of come to terms with its insistence and it's about to go down that same pr rabbit hole again with this...
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pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being the expiration of the bush tax cuts at the end of this year. to some extent, now they're getting to the real deadline and it is more serious. host: have you written one of the, if we go over the cliff, this is what happens-type article? guest: yes. people would probably start feeling it in their paychecks pretty quickly. never mind what it means to the broader economy. it will hit. it will hurt a lot of people. if we did not change the law and it went one month, two months, three months, it could lead to another recession because there be such a sharp drop in people's incomes and it would be s
pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being...
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we preserved the estate tax, the tax on -- the low tax rates on dividends. look at the things we got off this proposal. you should back this. >> do you think he's even giving them cover on this because it's so extreme? >> i think he wants boehner to go back to his caucus and say this is where the president started. look at the hardball negotiating i did to get the president down from $1.6 trillion on tax hikes to $1 trillion on tax hikes. i saved $600 billion in tax hikes and that's probably the most effective if not the only way he can negotiate this bill. >> how do the republicans -- what is their next move. chuck schumer saying if house republicans consider the president's budget a new offer we await their counteroffer. the ball is in their court to state on what they would do on entitlements and taxes. they have given no specifics so far. >> that's a tough question for them. by the way, you said this reminds you of dillon going electric. i think of the scene in the god father michael corleoneny, my offer is nothing, not even the fee for the contract whic
we preserved the estate tax, the tax on -- the low tax rates on dividends. look at the things we got off this proposal. you should back this. >> do you think he's even giving them cover on this because it's so extreme? >> i think he wants boehner to go back to his caucus and say this is where the president started. look at the hardball negotiating i did to get the president down from $1.6 trillion on tax hikes to $1 trillion on tax hikes. i saved $600 billion in tax hikes and that's...
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he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> the president had a busy fiscal cliff day, also met privately with the ceo ofs of home depot, coca-cola and yahoo!. not to be out done on this pr front, house republicans made it public, hosting a group of nervous business leaders. they've signed on to a campaign called fix the debt. they want big spending cuts to supplement the coming tax hikes. >> i'm hopeful but i wouldn't put me anywhere near
he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans....
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. > what is your reaction to a lawmaker who wants to put an extra tax on high-speed trading? what do you think about that? > > i think it is short- sightedness. i don't mean that as any real criticism, but when you look at it, they really want to arrest the problem. it should really be on cancellations. the speed of trading isn't- in my opinion, isn't really the issue. speed should be competitive and whatnot. as long as everyone has the same fair advantage to that, i think that's what the key is. putting a tax on a broad level, saying this will fix all, i think there would be so many unattended consequences as a result of that and what it opens the door for, i just think it is totally counterproductive and really not the solution. it's a hair trigger. > thanks for your thoughts today. good to have you on the show. have a good one. > > you too. president obama heads to philadelphia today to visit a toy manufacturing plant. it's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener hinted lawmakers are bac
. > what is your reaction to a lawmaker who wants to put an extra tax on high-speed trading? what do you think about that? > > i think it is short- sightedness. i don't mean that as any real criticism, but when you look at it, they really want to arrest the problem. it should really be on cancellations. the speed of trading isn't- in my opinion, isn't really the issue. speed should be competitive and whatnot. as long as everyone has the same fair advantage to that, i think that's what...
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that's just a fact, david. >> people would prefer it be done through tax reform, through tax loopholes, but also let me -- >> do you explain to them that by tax loopholes you're not going to get enough revenue to do what needs to be done? >> you are going to get to the 800 billion the speaker said you were going to get to. >> no, i don't think that's right, david. >> we have, again, our economists say we can get to that 800 billion. you have an economist says that you can't get to the 1.6 trillion that the president is trying to ask for. >> and republican math said that mitt romney was going to be president. >> now, that's a different dynamic. look, if you talk to other republicans, there were some other republicans that perhaps didn't have that level of confidence there but, again, i want to go back to this point. >> real quickly, david. we're out of time here. >> the fact is, the president and tim geithner have willfully taken a position that, in fact, in terms of generating revenue that there's only one way to generate revenue and that's through raising taxes and the president has b
that's just a fact, david. >> people would prefer it be done through tax reform, through tax loopholes, but also let me -- >> do you explain to them that by tax loopholes you're not going to get enough revenue to do what needs to be done? >> you are going to get to the 800 billion the speaker said you were going to get to. >> no, i don't think that's right, david. >> we have, again, our economists say we can get to that 800 billion. you have an economist says that...
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by the same time the chancellor is touting tax credits for working families and raising taxes and cutting benefits for the unemployed. now, mr. speaker, we do need to modernize our welfare state. those who work and can work should work. no ifs, ands or buts. so let us be clear. the chancellor claims he would cut the welfare bill, but higher inflation and long-term unemployment means the benefit is forecasted to be billions higher. the clue is in the name, mr. speaker. he cannot run a successful welfare to work program without work. and we know that the work program has totally failed with only two people in 100. we should be, mr. speaker. we should be requiring every long-term person to take a job. making sure that there is one there. let me ask the chancellor. one of the thousands now struggling to find a new job. he has announced today that he is cutting for jobseekers allowance for the next three years. how can that be fair when he is cutting the top rate tax? how can that be fair when someone earning 220,000 pounds a year will get a top rate tax cut of 75 pounds a week in april, which
by the same time the chancellor is touting tax credits for working families and raising taxes and cutting benefits for the unemployed. now, mr. speaker, we do need to modernize our welfare state. those who work and can work should work. no ifs, ands or buts. so let us be clear. the chancellor claims he would cut the welfare bill, but higher inflation and long-term unemployment means the benefit is forecasted to be billions higher. the clue is in the name, mr. speaker. he cannot run a successful...
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as i said the entire tax code is becoming a tax incentive. where you draw the line the amt usually goes to tax incentive bills and the fact the senate finance tax bills this year, the senate didn't pass it, the finance committee passed it and included tax extenders and the ones you went over but also included the amt patch indexing to inflation. >> so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiation, what are the options for congress right now on december -- what is it the sixth today? >> these are kind of an afterthought at this point because often, as i said, all these are extended for your or two at a time. they talk about trying to make the list shorter, but if they have to, december 29th, they need to pass something, all they have to do is pass everything for a year and it won't costs so much. they get to this after figuring out the bigger question. >> host: they can do in one bill? text extenders and list the different -- >> guest: you will go in the big fiscal compromise and you wo
as i said the entire tax code is becoming a tax incentive. where you draw the line the amt usually goes to tax incentive bills and the fact the senate finance tax bills this year, the senate didn't pass it, the finance committee passed it and included tax extenders and the ones you went over but also included the amt patch indexing to inflation. >> so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiation, what are the options for congress...
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instead of raising tax rates, we can produce a similar amount of revenue reforming the tax code to close loopholes and lower tax rates. >> no, no, no. republicans are not getting the mitt romney tax proposal. time to move on speaker boehner. republicans are furious about the white house proposal. mitch mcconnell told the weekly standard he burst into laughter when he received the deal. the new second ranking republican in the senate john cornyn also disparaged the deal. >> that's a crazy idea. i'm amazed that secretary geithner had the courage to float that yesterday. hence the laughter from senator mcconnell. that's the kind of response it deserves. >> they are laughing in public, but they are panicking behind closed doors. conservative writer matt lewis, writer for "the daily caller", the notion that republicans have leverage is silly. it's the same kind of happy thinking that led to some boldly-predicting a romney victory. he said republicans are so screwed. this is why president obama is playing to his strengths. the president has never had a problem rallying the american people to h
instead of raising tax rates, we can produce a similar amount of revenue reforming the tax code to close loopholes and lower tax rates. >> no, no, no. republicans are not getting the mitt romney tax proposal. time to move on speaker boehner. republicans are furious about the white house proposal. mitch mcconnell told the weekly standard he burst into laughter when he received the deal. the new second ranking republican in the senate john cornyn also disparaged the deal. >> that's a...
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the president has been very specific on tax revenues and what he wants. but the republicans are trying to put him in a position of doing their job for them. saying well, you tell us what you'll take and then maybe we'll come up with a plan. and clearly obama's not going to play that game. that's what geithner was signaling in the talk shows, that we're waiting for your proposal on entitlements, tell us what it is. >> look, therein lies the rub. that's the rub on this. because you led in with the president's speech in 2011. very good words, serious, somber. >> words that did not play well for the republicans. >> got that. but this is where the republicans are. okay. show me you're serious. lay out where you're beginning to want to make those cuts on entitlements. because we don't want to get out in front of this and be whipped upside the head for wanting to cut all these programs to, you know, kids afterschool and rec centers. >> the white house needs to present what they're -- >> the reality, yeah. that's it. on entitlements, the republicans view is we've
the president has been very specific on tax revenues and what he wants. but the republicans are trying to put him in a position of doing their job for them. saying well, you tell us what you'll take and then maybe we'll come up with a plan. and clearly obama's not going to play that game. that's what geithner was signaling in the talk shows, that we're waiting for your proposal on entitlements, tell us what it is. >> look, therein lies the rub. that's the rub on this. because you led in...
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tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when "now" starts in just three minutes. n't my daughs black bean soup spectacular? [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids don't relieve gas. gas-x is designed to relieve gas. gas-x. the gas xperts. gas-x is designed to relieve gas. when you lost the thing you can't believe you lost.. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. ♪ but the fire is so delightful ♪ nothing melts away the cold like a h
tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when "now" starts in just three minutes. n't my daughs black bean soup spectacular? [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [...
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an obsess to raise taxes is not going to solve the problem. >> for mr. cantor this is an obsession, but for one conservative commentator who appeared on this broadcast yesterday, it's even worse. >> president obama has this fetish of we've got to raise the rates on the top two because we're going to raise the deficit. >> who knew a balanced approach could be characterized as an obsession that evokes an erotic response. what this is about is the president drawing attention to a dirty little secret, their own fetish that republicans just don't like to hear ventilated in public. according to the congressional budget office in the years since 1979 as federal taxation has become less progressive, the income of the top 1% has grown by over $700,000, while the average pretax income for the bottom 90% of households has fallen by $900. did you get that. the top 1% up by $700,000, the bottom 90% down by $900. accusing the president of being obsessed is a
an obsess to raise taxes is not going to solve the problem. >> for mr. cantor this is an obsession, but for one conservative commentator who appeared on this broadcast yesterday, it's even worse. >> president obama has this fetish of we've got to raise the rates on the top two because we're going to raise the deficit. >> who knew a balanced approach could be characterized as an obsession that evokes an erotic response. what this is about is the president drawing attention to a...
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news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good for families like this one's. >> and this actually appears to be working. a new poll shows the president is running ahead of the boehner-led republican team. what about basketball you say? we go to charlotte last night, and the knicks treasury secretary, carmelo anthony, top paid and big star got hurt in this dive and had to leave the game. then the at the end it came down to this. >> looking for felton and finds smith. two seconds, one second. smith for the win. >> game over. no overtime. deal, end game, done. is this meaningless nba game in charlotte lead us to how the fiscal fiesta ends? we have a man
news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good...